Brokerages Set Nextpower Inc. (NASDAQ:NXT) Target Price at $146.12

Shares of Nextpower Inc. (NASDAQ:NXT) have received a consensus rating of “Moderate Buy” from the twenty-seven research firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $146.12.

A number of equities research analysts have recently issued reports on the stock. Mizuho lowered their price target on shares of Nextpower from $142.00 to $111.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Freedom Capital raised shares of Nextpower from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $137.00 target price on shares of Nextpower in a research note on Monday, August 3rd. The Goldman Sachs Group restated a “buy” rating and set a $168.00 price target on shares of Nextpower in a research report on Wednesday, July 1st. Finally, BNP Paribas Exane upped their price target on shares of Nextpower from $177.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, May 29th.

Insider Activity at Nextpower

In other news, President Howard Wenger sold 11,176 shares of Nextpower stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $104.78, for a total transaction of $1,171,021.28. Following the completion of the sale, the president owned 419,868 shares in the company, valued at approximately $43,993,769.04. This trade represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $151.79, for a total value of $683,055.00. Following the transaction, the chief financial officer directly owned 358,500 shares of the company’s stock, valued at $54,416,715. The trade was a 1.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 249,675 shares of company stock valued at $30,924,570 in the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nextpower

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Nextpower by 19.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock worth $18,436,000 after buying an additional 71,842 shares in the last quarter. M&T Bank Corp bought a new position in shares of Nextpower in the 2nd quarter worth $223,000. EverSource Wealth Advisors LLC raised its position in shares of Nextpower by 179.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after buying an additional 724 shares in the last quarter. Cerity Partners LLC raised its position in shares of Nextpower by 154.0% during the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after buying an additional 11,239 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock worth $12,122,000 after acquiring an additional 59,573 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextpower Stock Performance

NASDAQ:NXT opened at $104.55 on Friday. The business’s fifty day moving average is $109.93 and its 200 day moving average is $116.50. The firm has a market cap of $15.86 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 2.08 and a beta of 1.95. Nextpower has a 52-week low of $52.61 and a 52-week high of $163.13.

Nextpower (NASDAQ:NXT) last issued its earnings results on Thursday, July 30th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.05 by $0.15. The business had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. Equities analysts predict that Nextpower will post 3.73 EPS for the current fiscal year.

About Nextpower

Nextpower, formerly known as Nextracker, is traded on NASDAQ under the symbol NXT and is a leading provider of advanced solar tracking solutions for utility-scale and distributed energy projects. The company specializes in the design, engineering and manufacturing of single-axis tracker systems that optimize the capture of solar energy by following the sun’s trajectory throughout the day. Nextpower’s core hardware offerings aim to enhance energy yield, reduce balance-of-system costs and simplify installation and maintenance for downstream solar developers and operators.

In addition to its tracker hardware, Nextpower provides a suite of digital software and analytics tools to maximize asset performance.